Insights
Practical tax and money answers for Canadian owners and professionals, written by the accountants who file the returns.
Filing Taxes Late in Canada: The Penalties, and the One Route That Caps Them
What the CRA charges when you file late, including the penalties most guides leave out, and how the Voluntary Disclosures Program changed on October 1, 2025.
Behind on Payroll Remittances: What the CRA Charges and What to Do
The CRA penalty ladder for late payroll source deductions, why this debt is treated more urgently than corporate tax, and how to get back in front of it.
The CRA Froze My Bank Account: What It Is and What to Do
Why the CRA can freeze a bank account without a court order, what a requirement to pay actually is, and the routes to getting the account released.
CRA Collections: What Happens Next, and What You Can Still Do
What the CRA can do to collect a tax debt, in the order it usually happens, and the options that remain open at each stage. Written for Canadian business owners by a CPA firm.
BC PST on Accounting Services: The October 1, 2026 Rules Explained
BC applies 7% PST to accounting services from October 1, 2026. Which services are caught, the four exemptions, the transitional rule that can still save you the tax, and why this one is not recoverable like GST.
Selling a Home You Rented Out: Canadian Tax Rules
Selling a Home You Once Rented Out: How the Tax Actually WorksKey takeawaysSelling your home is usually tax free, but you still have to report it on Schedule 3 and Form T2091.Turning a home into a rental triggers a deemed disposition at fair market value, with no...
BC Employer Health Tax 2026: Rates, Thresholds and Dates
BC Employer Health Tax 2026: Thresholds, Rates and the Cliff at $1.5MKey takeawaysPayroll of $1,000,000 or less pays nothing. The exemption doubled in 2024, so recheck rather than assume.Between $1M and $1.5M the rate is 5.85% of the amount above $1,000,000.Over $1.5M...
When should a doctor incorporate after residency
Incorporation costs money. You need a corporate tax return, a minute book, annual filings, and legal costs for the initial setup. The annual cost of runnin
IPP vs RRSP for physicians over 50
The RRSP limit is 18 percent of earned income to a maximum of $33,810 for 2026. That limit is the same for a physician earning $200,000 as it is for one ea
Should your dental hygienist be payroll or contractor
The agreement you sign with a hygienist does not determine whether they are an employee or a contractor. CRA applies the RC4110 common-law test to the actu
Salary or dividends for an incorporated physician
Salary is earned income. That is important because earned income determines how much RRSP contribution room you build for the following year. Dividends are
Paying family from a veterinary corporation: what TOSI allows
The TOSI rules, short for tax on split income, tax certain payments to family at the top marginal rate. One of the main exceptions, the excluded-shares exc